About the Bond
Austin ISD is planning for a potential bond package for the November 8, 2022 election.
The 2022 Bond will fund capital projects, such as repairing failing building systems, new facility construction and renovations, technology upgrades and other improvements. The Bond Steering Committee (BSC) is currently determining which projects will be included in the potential bond package.
The district is prioritizing a bond for November 2022 because our normal operating budget or general fund—which pays for things like salaries, utilities and supplies—has been tapped to pay for major repairs in recent years. We reserve some portion of our general fund for unexpected repairs but funding major repairs like roofing, plumbing or HVAC systems from the general fund reduces amounts available for other maintenance and operation expenses, including things like teacher salaries.
Additionally, taxes levied to repay bonds are not subject to recapture. For the 2020-21 school year, the state took over 53% of the district’s local property tax collections in recapture payments. This means when the district pays for repairs out of the general fund, it is paying from a source that only yields 47 cents out of every dollar of tax levied by the district. We keep every cent of the tax levied to repay our bonds. Ultimately, the district retains more funds when capital repairs and similar expenses are funded from bond taxes rather than maintenance taxes.
We are committed to a transparent planning process that gives voters a clear understanding of what items and projects are included in the bond package and why. The BSC intends to use an equity framework to prioritize projects and their recommendations which will be passed onto the Board of Trustees for a final vote.